Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Symbotic Inc shares valued at $70,016 were sold by Dunn Michael David on Apr 24 ’24. At $40.08 per share, Dunn Michael David sold 1,747 shares. The insider’s holdings dropped to 74,032 shares worth approximately $2.93 million following the completion of this transaction.
Also, KRASNOW TODD sold 2,000 shares, netting a total of over 84,406 in proceeds. Following the sale of shares at $42.20 each, the insider now holds 10,447 shares.
Before that, Dunn Michael David had sold 5,444 shares from its account. In a trade valued at $235,674, the insider traded Symbotic Inc shares for $43.29 each. Upon closing the transaction, the insider’s holdings decreased to 5,444 shares, worth approximately $2.82 million.
As published in a research note from DA Davidson on February 07, 2024, Symbotic Inc [SYM] has been rated up from a Neutral to a Buy and the price target has been revised to $50. Analysts at Needham resumed the stock at ‘”a Buy”‘ outlook in a report released in early February. As of October 03, 2023, KeyBanc Capital Markets has initiated its “an Overweight” rating for SYM. Earlier on August 01, 2023, William Blair downgraded its rating. Their new recommendation was “a Mkt perform” for SYM stock which previously was a “an Outperform”.
Analyzing SYM Stock Performance
During the last five days, there has been a drop of approximately -1.35%. Over the course of the year, Symbotic Inc shares have dropped approximately -22.95%. Shares of the company reached a 52-week high of $52.20 on 02/05/24 and a 52-week low of $37.22 on 02/07/24. A 50-day SMA is recorded $43.26, while a 200-day SMA reached $42.87. Nevertheless, trading volume fell to 1.12 million shares from 0.58 million shares the previous day.
Support And Resistance Levels for Symbotic Inc (SYM)
According to the 24-hour chart, there is a support level at 38.46, which, if violated, would cause prices to drop to 37.36. In the upper region, resistance lies at 40.20. The next price resistance is at 40.84. RSI (Relative Strength Index) is 38.78 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.80, which suggests the price will decrease in the coming days. Percent R is at 80.75%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
